https://www.taxtmi.com/article/detailed?id=13035 Section 139(3) requires timely filing of a return of loss to enable carry forward of business or capital losses; Section 80 bars carry forward of losses not determined by such a return, while unabsorbed depreciation under Section 32(2) is treated separately. The CBDT's Circular No. 09/2015 authorises delegated officers to condone delay subject to monetary limits, procedural conditions, a six year outer limit for applications, and specified safeguards including verification of correctness and absence of interest on belated refunds. en-us Sat, 19 Oct 2024 10:08:03 +0530 Sat, 19 Oct 2024 10:08:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13035 Section 139(3) requires timely filing of a return of loss to enable carry forward of business or capital losses; Section 80 bars carry forward of losses not determined by such a return, while unabsorbed depreciation under Section 32(2) is treated separately. The CBDT's Circular No. 09/2015 authorises delegated officers to condone delay subject to monetary limits, procedural conditions, a six year outer limit for applications, and specified safeguards including verification of correctness and absence of interest on belated refunds. Articles Income Tax Sat, 19 Oct 2024 10:08:03 +0530 https://www.taxtmi.com/article/detailed?id=13035